12 U.S.C. § 5431 — Interim use of funds, personnel, and property of the Office of Thrift Supervision
submitted 16 years ago by Pub. L. 111-203 to r/title-12-BANKS-AND-BANKING · 464 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Before the transfer date, the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors shall—
consult and cooperate with the Office of Thrift Supervision to facilitate the orderly transfer of functions to the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors in accordance with this title; 1
determine jointly, from time to time—
the amount of funds necessary to pay any expenses associated with the transfer of functions (including expenses for personnel, property, and administrative services) during the period beginning on July 21, 2010, and ending on the transfer date;
which personnel are appropriate to facilitate the orderly transfer of functions by this title; 1 and
what property and administrative services are necessary to support the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors during the period beginning on July 21, 2010, and ending on the transfer date; and
take such actions as may be necessary to provide for the orderly implementation of this title.1
When requested jointly by the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors to do so before the transfer date, the Office of Thrift Supervision shall—
pay to the Office of the Comptroller of the Currency, the Corporation, or the Board of Governors, as applicable, from funds obtained by the Office of Thrift Supervision through assessments, fees, or other charges that the Office of Thrift Supervision is authorized by law to impose, such amounts as the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors jointly determine to be necessary under subsection (a);
detail to the Office of the Comptroller of the Currency, the Corporation, or the Board of Governors, as applicable, such personnel as the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors jointly determine to be appropriate under subsection (a); and
make available to the Office of the Comptroller of the Currency, the Corporation, or the Board of Governors, as applicable, such property and provide to the Office of the Comptroller of the Currency, the Corporation, or the Board of Governors, as applicable, such administrative services as the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors jointly determine to be necessary under subsection (a).
The Office of the Comptroller of the Currency, the Corporation, and the Board of Governors shall jointly give the Office of Thrift Supervision reasonable prior notice of any request that the Office of the Comptroller of the Currency, the Corporation, and the Board of Governors jointly intend to make under subsection (b).
Source credit: (Pub. L. 111–203, title III, § 321, July 21, 2010, 124 Stat. 1528.)
- 2010Enacted · Pub. L. 111-203 · 124 Stat. 1528
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-203 on 2010-07-21.
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